Greece Economic Depression Resulting in INFLATION NOT DEFLATION …
All of this suggests that Greece should be experiencing deep price deflation as many workers are being forced to suffer 30% pay cuts as a consequence of being forced to cut the governments budget deficit to back under 3% of GDP. …. they will demand a higher interest rate to hold the riskier Greek debt which means instead of paying 5% interest, suddenly the annual debt interest burden jumps far higher as we are witnessing in the crash of the Greek bond market, …
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